Search
-
IMF preliminary DSA finds Greek debt unsustainable, points to need for debt relief
EconomyProgrammetargets for the next years: at 1 percent of GDP for 2015 (from 3 percent), 2 percent in 2016 (from 4.5 percent) and at 3 percent for 2016 and beyond (from 4.5 percent). 2) Lower privatization proceeds... 36 billion. These additional funding needs stem from: 1) Lower fiscal targets (additional needs
19% -
The key numbers behind the latest Greek proposals
EconomyProgrammewill target net revenue gains of 1 percent of GDP on an annual basis, which is similar to institutions’ proposal. Since the changes are effective as of July 1, the additional revenues correspond to 900 million... permanent savings of 0.25 – 0.5 percent of GDP in 2015 and 1 percent in 2016, in line with the institutions
19% -
Greece and creditors try to untangle pension complications
EconomyProgrammeParliament on July 15 included the following pension-related interventions: 1) Health contributions...) for supplementary pensions retrospectively as of July 1. This means that pre-tax pensions will be reduced by 2 and 6 percent respectively. According to the General Accounting Office, the rise
19% -
EU and IMF bailout drafts confirm conditionality as well as differences on primary surplus
EconomyProgrammetarget of 3.5 percent by 2018 that would be covered by: 1) A holistic pension reform yielding savings of 1 percent of GDP and would also compensate for the Council of State decision ruling unconstitutional the pension cuts implemented in 2012 (estimated cost of 2 percent of GDP) 2) Personal income
19% -
Tsipras sails through multi-bill vote, looks to disbursement and debt relief
PoliticsGreek Politicsall of his 153 MPs support the legislation despite it containing another 1 percent of GDP in tax... on pension and income tax measures worth 2 percent of GDP) unscathed. He undoubtedly emerges from... surplus target to 2 percent of GDP between 2017 and 2021, while in return aiming for a growth rate
19% -
Details of technical agreement between Greece and lenders set out in draft sMoU
EconomyProgrammeevening. The 53-page document dated May 2 is broadly similar to a previous draft of April 23 that we... (2 million). Although the tax expenditures to be abolished are not detailed in the draft sMoU... (MTFS) for 2018-2021, a pension reform with net savings of 1 percent of GDP in 2019-2021
19% -
Newsletter 125 -30/06/2017
of the Noor 1 cargo ship seized with around 2 tons of heroin on board in 2014 - had asked for protection..., Panos Kammenos over his contact with a convict connected to the Noor 1 drug smuggling case... envisaged in this five-year period. 2 Budget primary surplus up 26.5 pct Five-month primary target beats
19% -
Greece - On the importance of productivity growth
Agoraof productivity growth recovering to around 1 percent a year. We also accept this assumption for Greece. [2..., on average. Table 1 presents key statistics to support our bearings. The population data come from... the 1970s onwards.[1] All industrial countries show this pattern. This development is not particular
19% -
Finance Ministry targets 3 bln from unpaid taxes
EconomyMacroeconomypercent of total. The upper bracket, related to tax debt in excess of 1 million euros relates to 2,500... a useful insight into outstanding tax debt. Unpaid taxes stood at a total of 76 billion euros at the end of January 2015, of which 29.4 billion (38.7 percent of total) was created before 2009
18% -
Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingloan provisions eased by 1 percent to 475.7 million. Top-line results mainly incorporate... deposit rates show there is difference of 35 bps between the front and the total book, suggesting further... 441 branches (26 percent of total) have been shut down over the past 12 months. The bank says it has
18%